Barclays for a long while have been offering Islamic bank accounts... accounts where it is immorally wrong to earn interest on money deposited.

I've always wondered who gets to cream off the profits....

Quote:

Islam forbids lending on interest and gambling, which many bankers say precludes short-selling, or selling an asset on the expectation that its price will fall, and other bets on currency and stock movements commonly used by hedge funds.

Martin declined to say how the hedge funds would comply with sharia, saying that was proprietary information.

This is no different as someone will be making money out of this as well.

I wouldnt worry too much as there actually isnt a "huge demand for Islamic investments" and that's why it isnt more widespread. Just not worth attracting the few that would use it, when they can go to HSBC already...